Prudent economic management must continue - GNCCI

Story: Boahene Asamoah

THE Ghana National Chamber of Commerce and Industry (GNCCI), the umbrella organisation of trade and industry in the country, has called on the government to maintain prudent management of the economy this election year to ensure that gains made so far are not derailed.
“We expect the government to maintain a prudent management of the economy in an electioneering year with all the temptations to overspend, leading to excessive borrowing from the banking sector, thereby crowding out the private sector from access to bank credit,” the chamber said.
In a New Year message, the President of the chamber, Mr Wilson Attah Krofah, also urged the government to seriously pursue the modernisation of agriculture through mechanisation, delivery of extension services, including the supply of high yield crop seedlings and the provision of suitable irrigation facilities.
“There is also the need to organise more efficient marketing systems for food crops nationally,” Mr Krofah stated, adding that “these arrangements will lead to improvement in the purchasing power of large majority of the rural population engaged in farming.”
Mr Krofah stated that the chamber would continue to pursue vigorously the ECOWAS integration to allow for free movement of people, goods and services across the sub-region.
“The chamber believes strongly that Ghana stands to benefit tremendously from an integrated West African market with over 250 million people, as it will help to expand the market for our local manufacturing industries,” Mr Krofah stated.
He said the chamber was already working with its Burkinabe counterpart for the supply of meat to Ghana and the export of manufactured products from Ghana.
On the oil find in the country, the President of the chamber implored Ghanaian entrepreneurs to gear up to participate fully in what he described as a “profitable and competitive market”.
He said there were indications that there was an influx of international business operations into the country to explore business opportunities associated with the oil industry and encouraged Ghanaian entities not to stand aloof.
“Looking into the future, the oil found in the Western Region, promises buoyant and profitable business opportunities,” Mr Krofah stated, and added that the chamber was ready and prepared to put its services at the disposal of all interested Ghanaian entrepreneurs to make the necessary contacts internationally.
On the political front, he said the chamber would like to see a more civil electioneering campaign from all political parties to ensure that the political climate remained stable, and that campaigns should be based on issues and how contesting parties planned to improve the standard of living of Ghanaians.
Mr Krofah stated that last year trade and industry faced a lot of challenges such as the energy crises and the influx of cheaper imports, but expressed optimism that this year would offer a more favourable and friendlier business climate.